Recent ordinals listings and news events makes bitcoin network congested. News of bitcoin and ETH ETF also creates hype to the market which lead to a congested market for both network. There is another L2 in the ETH network that emerged this week and its TVL is already around 70M due to possible airdrop from that project. This new L2 is called Blast and news says it is a project created by a famous NFT marketplace Blur. This situation won't last long and the network will run like normal when the hype fades away.

I know of bitcoin network being currently congested but can't say about the ethereum network if this congestion has extended to them or not, in bitcoin we make use of transaction fee while in ither cryptocurrencies it's called gas fee, bitcoi netwo is not getting congested for the first time, ordinals is part of what is believed to have constitute to the congestion on the bitcoin network making it transaction fee higher because other services are taking advantage of the blockspace to serve their own purpose at the expense of the bitcoin users.

I see where your question is headed, you see the mempool congested which means that there is high demand or supply of bitcoin which should have impacted the price either upward movement or downward movement but it is not that. Yes that is because the mempool is not just congested with bitcoin only but with also has another token called the BRC20 tokens like ORDI on its network and there mass transactions has been the one congesting the bitcoin mempool. The bitcoin transactions in the mempool are just the usual transactions but since the listing of ORDI on binance exchange many people have started falling into the prey of buying it and it is the token that is congesting the mempool.

As for the ETH gas fee or its congestion that’s also has to do with the movement of numerous number of tokens on its network that is been transferred and not the ETH coin it self.


You are checking bitcoin fees on the wrong site or either you’re evaluating it wrongly your self. Bitcoin transactions fees has never been that high to 0.1 BTC. Even the highest bitcoin transaction fee we have had since this congestion stated hasn’t surpassed 500sats/vbyte as far as I can remember which is equivalent to just then equivalent to 0.0007 BTC

You should check https://mempool.space/ for proper fee estimation

Only miners have the authority to determine the direction of fee prices, whether up or down.  To understand this, we must take into account the profit formula of mining companies because they do not do this voluntarily.  They are companies whose primary goal is to achieve the most profits possible, and in this market they have fierce competition.  These companies are mainly affected by the extent of demand for using the network because they operate on the principle of collecting transactions that have more fees, and the extent of the flow of transactions on the network is not always controlled by the price of the currency itself because people may sell a lot when prices rise or buy more when prices fall.

Nope! The fees amount has no relationship with the price. The fees is not increasing because of Bitcoin's demand. It is increasing because ordinals have again become active and they are using Bitcoin network. So the network is becoming congested and the fees are increasing as per the normal process.

This nonsense called Ordinals need to be stopped immediately. Otherwise, Bitcoin network will also become similar to ETH.

You are quite late to notice it because those who are regularly dealing in crypto are well aware of the BTC fee, and this fee does not shoot up due to the price of BTC. If you think the price of BTC is the only reason behind the transaction fee, then I think you should gather some information first.
I can assist you in learning that transaction fees don't only depend on the BTC price; they also depend on the traffic on the BTC blockchain. Due to the recent Ordinals probelms, the BTC blockchain is loaded with thousands of transactions in a short period of time, and a lot of bad people are using techniques to dust the blockchain to increase the fee artificially.
These bad actors could be anyone but are assumed to be miners because their actions benefit the miners most. Other than this, ETH's price was already high, but I was not aware that it was near $9.

Mempool's inexplicably congested, some people attributing ordinals as the cause for this which I couldn't understand, since NFTs are practically for a long time now. With that being said, There's been movement in both bitcoin and ethereum in the past few days, which may have lead people to take this opportunity to either buy more crypto, or sell what they held on for so long. So there's that. In any case, I don't see gas fees (as long as they are not astronomically high) as a massive loss for cryptocurrencies, since at the end of the day this is an indication that something within the network is transpiring, which is a good sign for the most part since it means a lot more people are becoming involved in crypto.

Volume volatility and rising crypto prices greatly influence gas costs, during the bull season all transfer fees, swaps soar high and fees can be said to be expensive for me. Many investors who hold coins for a long time sell in the bull season so that transactions become slow. and there is no other choice I have ever chosen to choose high fees on the ethereum network.

The issue is that the transaction numbers increase a ton, and we need to realize that we can't really have it both ways, we can't have a big bull run where the price goes above 70k+ and at the same time keep the transaction quick and cheap. That doesn't exist, or at least it doesn't exists right now, and we need to keep thinking about that.

I know that it is not going to be easy at all, and I know that we are going to end up with something that would be difficult to handle, but we need to arrange something that has to be a bit different. I get that it is not going to be all that incredible, and yes it is not going to be a bigger deal, I hope that it gets to a point where we could just find a way to have bigger blocks, which means that more and more transactions could fit into it, even smaller ones, and make it quick. That would be a good situation, and should be a good return on our investment because we are spending a lot less in that situation as well.